B&G Foods (BGS) : Wealthsource Partners reduced its stake in B&G Foods by 4.12% during the most recent quarter end. The investment management company now holds a total of 13,512 shares of B&G Foods which is valued at $656,548 after selling 580 shares in B&G Foods , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.B&G Foods makes up approximately 0.24% of Wealthsource Partners’s portfolio.
Other Hedge Funds, Including , Sigma Planning Corp added BGS to its portfolio by purchasing 14,729 company shares during the most recent quarter which is valued at $697,860. B&G Foods makes up approx 0.09% of Sigma Planning Corp’s portfolio.Biondo Investment Advisors boosted its stake in BGS in the latest quarter, The investment management firm added 8,960 additional shares and now holds a total of 55,280 shares of B&G Foods which is valued at $2,619,166. B&G Foods makes up approx 0.90% of Biondo Investment Advisors’s portfolio.Creative Planning reduced its stake in BGS by selling 139 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 8,683 shares of BGS which is valued at $411,227.
B&G Foods closed down -0.38 points or -0.78% at $48.25 with 4,55,971 shares getting traded on Monday. Post opening the session at $48.65, the shares hit an intraday low of $48 and an intraday high of $48.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, B&G Foods reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.46. The company had revenue of $306.40 million for the quarter, compared to analysts expectations of $316.03 million. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.
Investors should note that on Aug 2, 2016, B&G Foods announced a cash dividend of $0.4200. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.
Many Wall Street Analysts have commented on B&G Foods. DA Davidson Downgraded B&G Foods on Aug 9, 2016 to ” Neutral”, Price Target of the shares are set at $52.Company shares were Upgraded by DA Davidson on Jul 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $47 .Company shares were Downgraded by DA Davidson on May 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .
B&G Foods Inc. (B&G Foods) is a holding company that manufactures sells and distributes a range of shelf-stable food and household products across the United States Canada and Puerto Rico. Its products include hot cereals fruit spreads canned meats and beans bagel chips spices seasonings hot sauces wine vinegar maple syrup molasses salad dressings Mexican-style sauces dry soups taco shells and kits salsas pickles peppers tomato-based products puffed corn and rice snacks nut clusters and other specialty products. The Company’s products are marketed under a range of brands including Ac’cent B&G B&M Baker’s Joy Bear Creek Country Kitchens Brer Rabbit Canoleo Cary’s Cream of Rice Cream of Wheat Devonsheer Don Pepino Emeril’s Grandma’s Molasses JJ Flats Joan of Arc Las Palmas MacDonald’s Maple Grove Farms of Vermont and Molly McButter among others.